Friday, July 19, 2024

Pakistan Increases Defence Spending for the First time in 3 Years

Pakistan’s defense budget is anticipated to be increased in the budget for the year 2023-24, marking the first increase in three years. The proposed increase will raise the defense budget from Rs1530 billion to Rs1800 billion, reflecting an 11.1% growth.

In the past three years, the budget allocated to the armed forces remained unchanged. This included two budgets during the COVID-19 pandemic, where the government aimed to reduce expenses. Even after a change in government last year, the defense budget was not raised, as the focus was on stabilizing the country’s struggling economy. Additionally, the salaries of armed forces personnel have not been increased since 2020.

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